Adani-Hindenberg Case A big update has come to the fore regarding the Adani case. The Supreme Court will now hear the Adani-Hindenburg case after 3 days i.e. on May 15. At the same time, SEBI had asked the court for 6 months time for the investigation, but the court has given instructions to complete the investigation in 3 months.
Adani-Hindenberg Case: A big update has come to the fore regarding the Adani case. The Supreme Court will now hear the Adani-Hindenburg case after 3 days i.e. on May 15. At the same time, SEBI had asked the court for 6 months time for the investigation, but the court has given instructions to complete the investigation in 3 months.
Chief Justice DY Chandrachud has said in this hearing that 6 months is too much time to investigate or the demand is not justified. Along with this, he has said that we will hear this matter around 14 August.
Supreme Court said this
The Supreme Court told SEBI during the Adani Group-Hindenburg report hearing on Friday that “we will extend the time for investigation, but not for six months. We will extend the time for three months”
Orders for investigation were given on March 2
A bench headed by Chief Justice of India Dr. Dhananjay Yashwant Chadrachud and Justices PS Narasimha and JB Pardiwala was hearing the matter on Friday. On March 2, the apex court had directed SEBI to investigate any violation of securities law by the Adani group in the Hindenburg report, which led to a massive loss of over US$140 billion of Adani group’s market value.
SEBI asked
for extension of time for 6 months SEBI’s application has been opposed by the petitioner Vishal Tiwari. SEBI has said that it will take at least 15 months to complete the investigation of these transactions, but is making all reasonable efforts to finish it within six months.
Who is included in the committee?
The expert committee is headed by Justice Abhay Manohar Sapre, former judge of the Supreme Court of India, along with five other members – retired judges Justices JP Deodhar, OP Bhatt, KV Kamath, Nandan Nilekani and Somashekar Sundaresan.
